IN WITNESS WHEREOF, the parties have executed this Lease. 

  




|  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |
| **LESSOR** |
|  |
| **BH Holdings LLC** |
|  |  |
| By:  |   | Intrepid Oil & Gas, LLC |
|  |   | Its: |   | Manager |
|  |   |  |   | By:  |   | Intrepid Production Corporation |
|  |   |  |   | Its:  |   | Manager |
|  |  |  |  |  |
|  |   |  |   |  |   | x |   | /s/ Robert P. Jornayvaz III |
|  |   |  |   |  |   | By:  |   | Robert P. Jornayvaz III |
|  |   |  |   |  |   | Its:  |   | President |

  




|  |  |  |
| --- | --- | --- |
|  |  |  |
| **LESSEE** |
|  |
| **Intrepid Potash, Inc.** |
|  |  |
| By:  |   | /s/ David W. Honeyfield |
|  |   | David W. Honeyfield Its: Executive Vice President,
       Chief Financial Officer and Treasurer |